It’s over a year since the last major City funds move after some 20 months of frantic lateral hiring almost entirely by US firms, so it was about time Sidley Austin broke the brief trend. A few months after signing up Clifford Chance Singapore funds partner Han Ming Ho, the US firm’s London base has secured the services of outgoing Man Group general counsel Stephen Ross, whose exit from the alternative investment manager led to the promotion of head of legal Jasveer Singh.
Ross and Singh are also formerly of the Clifford Chance parish, Ross having co-headed its funds practice with Jason Glover before leaving for Man in 2004. His departure was perhaps not a devastating loss for Clifford Chance, but he was clearly not the only person to leave CC’s funds practice and its wider alternative investment group over the past decade.
As this week’s City analysis on the firm’s private equity practice demonstrates, Clifford Chance has suffered a gradual loss of key lawyers at partner and associate level and, with this, a major challenge to its client retention credentials – not least now that Carlyle relationship partner David Walker has quit for Latham & Watkins.
Also on TheLawyer.com:
- It may be St George’s Day, but here’s some sobering data for patriotic City firms (but not for headhunters): partner headcount in the top 30 international firms in London has increased by 25 per cent since 2008. Bloody foreigners.
- Shearman & Sterling has lost another partner in Germany, with Düsseldorf-based Hans Diekmann set to join Allen & Overy
- More than half of Herbert Smith Freehills’ partner promotions are based in the Asia-Pacific region
- Brick Court’s Mark Hoskins QC has been instructed to challenge the Tobin tax
- Ropes & Gray makes a double hire from Fried Frank in London and Hong Kong covering finance, capital markets and corporate
- And, France’s Gide Loyrette Nouel is in merger talks with Paris corporate and litigation firm Veil Jourde